Which of the following best describes the difference between financial and managerial accounting?

options: Managerial accounting provides information to support decisions while financial accounting does not.

Managerial accounting is not restricted to generally accepted accounting principles, while financial accounting is restricted to GAAP.

Managerial accounting does not result in financial reports, while financial accounting does.

Managerial accounting is concerned solely with the future and does not record events from the past, while financial accounting records only past transactions